Many people assume that there is a tradeoff between making money and making an impact—that you can’t do both at the same time, or at least not to a high level. This has been the prevailing thinking, especially in the business sector.
But over the past few decades, a new field of “social entrepreneurship” has proven this assumption wrong. A spectrum of possibilities now exists for people aspiring to reap profits …
“The patient has a severe infection of the hand and is not improving on the current antibiotics,” I explained to the medical director at the insurance company.
“I understand. However, the patient has no elevated white count or fever, and I cannot get it to meet the criteria, so I will have to deny the necessity for the patient to stay in the hospital,” she explained.
I felt my voice rising and …
Being a transactional lawyer for physicians is never dull because the more the regulations, guidance, and laws change, the more questions everyone has. But it’s more than just getting an answer to a question and being in compliance. Doctors are feeling overly worn down and out of control, and the risks that face their practice are real. It contributes to burnout and apathy, as it’s hard enough to keep track …
The medical landscape for practicing physicians is changing. Seemingly the option of “hanging one’s shingle,” being your own boss, setting your schedule, and providing personalized care in a warm and cozy environment, “Marcus Welby style,” isn’t a viable option anymore.
Rather, graduating physicians are choosing between the options of becoming a hospital-employed physician, hospitalist, employed physician in a large multispecialty group, joining the faculty at an academic institution, or, sadly, electing …
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“There are two valuable reasons why all physicians, especially medical students, should obtain or demand from their medical school academic business education.
About 98 percent of physicians and medical students have never had an academic business education. About …
An excerpt from Soul in the Game: The Art of a Meaningful Life.
“One day you ordered a Happy Meal for the last time and you didn’t even know it.”
— McDonald’s.
No, this McDonald’s was not an ancient Roman contemporary of Seneca. This was a tweet by the McDonald’s Corporation …
Did you assume that your life would be magically perfect once you finished training?
I know I did.
I fully believed that once I graduated from my fellowship and became an attending, everything in my life would just fall right into place. Somehow my finances would be simple, my marriage would be great, I would be an amazing mother with well-behaved children, and things would be easy.
Wrong.
So many of us have this …
There are two valuable reasons why all physicians, especially medical students, should obtain or demand from their medical school academic business education.
About 98 percent of physicians and medical students have never had an academic business education. About 30 to 50 percent of graduating medical students prefer private medical practice—which requires business and marketing knowledge to reach their optimal potential in private medical practice as described below.
Private medical practice is a …
Picture this. A patient in a hospital or rehab facility has just finished exercising with therapy. He is thirsty, and he thinks he might as well ask for a snack now because he will be hungry in 30 minutes. His therapist sets him up in his wheelchair (brakes locked), tray table with all necessities positioned in front of him, with his call bell within reach. As she approaches the door …
Would you expect the chef at a restaurant to be told that they are not only required to prepare the food in the kitchen but also deliver it to each of the tables and manage the billing? What about sorting out the restaurant’s finances or understanding the number of patrons that need to flow through per night to optimize income? If this sounds unreasonable, how did we end up asking …
You may never have created a budget. Not everyone does. For many of us in medicine, our saving so completely dwarfs our spending that we’ve never needed to use a budget. We just wing it. Why do some physicians spend so little?
Spending money is hard for many people, including physicians. After years of frugality in education and training, then funneling money into investments, planning for the future, building life for …
I always think of the beginning of July as the New Year in medicine. It’s when medical students become interns, interns become residents, and residents become newly minted attendings. With each change is an increase in responsibility.
I remember paying even more attention to the history and physical each time I crossed that threshold. With an increased sense of purpose and responsibility. This was true in the office and during admissions …
The 2022 Top States for Business designation has higher stakes than ever, as companies compete for top talent while balancing inflation, supply chain issues, and other ongoing pandemic side effects. However, the solution to employee recruitment and retention is not an expensive corporate relocation; it is time for a corporate wake-up call. American companies must stop or re-examine existing efforts to engage with their employees and instead meaningfully adjust …
Get off the field.
Go back to the dugout and rally your team.
Create your rules of engagement.
The structure and hierarchy of medicine teach doctors to compete with one another. From the beginning, we’re told there are a finite number of acceptance letters sent to aspiring physicians. In medical school, we compete for one of a limited number of slots in highly selective and competitive training programs. And as attendings, we have …
As a physician’s attorney focusing on physician contract review, I spend all of my professional life reviewing and negotiating physician employment agreements. In my experience, women physicians have several issues that need special attention when negotiating their physician employment agreements.
Any physician needs to be familiar with appropriate compensation through benchmarking data such as that published by the Medical Group Management Association (MGMA). However, while this may be one of several …
An excerpt from Soul in the Game: The Art of a Meaningful Life.
A rental car counter clerk had the audacity to tell me that the SUV I ordered was not available and I could only have a minivan. (I know, I can feel your blood boiling, too.) In …
With many health care systems around the world an elaborate mess, real estate can be an efficient strategy for doctors to ensure their financial future after retirement. They can benefit from long-term appreciation and tax breaks by investing in real estate.
As economies and technologies continue to evolve, many physicians have started buying real estate for investment purposes. Some doctors choose to invest their money in real estate to diversify their …
I see your comments on social media, and I wonder: Why are you upset? How do the negative comments towards physician colleagues serve you?
This is not an attack (that would be hypocritical). Rather, I invite you to genuinely ask yourself these questions as I sense something familiar — a projection of frustration and pain, perhaps? And I wonder how we may stop projecting and, instead, indeed start healing together?
While I’ll …
Inspired by an essay published in Iowa Law Review by Bartlett and Gulati from Duke Law School that succinctly elaborated on underexplored discrimination by customers.
Now, we will elaborate our thoughts as they correspond to health care.
While practicing clinical medicine, health care professionals, including physicians, may encounter implicit bias of their patients even when the payments for the services rendered to patients are by third-party payers as regulated …
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